Dear all

I tried to read the AS on Income Taxes but i can't gain any knowledge except deferred tax asset/liability.

I do not know how to present it in financial statement and for the 1st time application of that AS i do not know how to calculate opening balances so please it would be helpful if anybody make me clear in this matter.

Facts :

X, who is a direct exporter purchased 250 sewing machines and leased to a job work contractor,say Y, who inturn, does job work only to that exporter and for none.

Is it possible to claim exemption as per subsection of Sec.4, since there is levy of tax on transfer of right to use any good, but if the same is used "in the course of export of goods out of territory of India", the lease shall be exempted from tax.

I AM A CHARTERED ACCOUNTANT. DURING THE YEAR 2008 I HAVE ATTENDED 35 CPE HOURS. CAN THE EXCESS OF HOURS CAN BE CARRIED FORWARD? AS PER MY KNOWLEDGE I REQUIRED TO COMPLETE 20 CPE HOURS AND 10 UNSTRUCTURED CPE HOURS BY MADE SELF DECLARATION. KINDLY CLARIFY THE DOUBT?

Form of Annual Return of a Company having a Share Capital", under Companies Act, which is to be filed with Registrar of Companies which form is required to be filed and also which attachment require for this
due date for filing annual return of company every financial year
Please provide me the Annual return excel format as per schedule V of the companies Act 1956
every year there is require of DIN 2 , 3 & F FORM FOR COMPANYROC

i have carried forward loss of futures & options(f&o)for asst year 2005-06 when it was treated as speculation loss.But For asst year 2006-07 F&O Profit has been given the status of business profit through budget announcement.so now what will be the fate of my speculation loss.can it be set off against f&o profit in asst year 2006-07 or it has to be set off against speculation profit only.

Dear friends,

I would like to have clarification on the following issue:

House property cost as per books Rs.40.00 lakhs - on entire damage of the building Insurance claim received for Rs.50.00 lakhs. Please give your opinion on taxability of the excess amount of Rs.10.00 lakhs

Whether service tax is applicable on rent of diesel generating set

Sir,
We are a Residential Township Construction Company.

There are two companies under our group.
Company A is under obligation to build the Infrastructure for Company B after which Company B will build the Houses.

Now at the time of issuing infrastructure construction bills, I encounter with the following queries.

1 Company A used both labour & materials for building infrastructure. How we should raise the bill? Are VAT & Service Tax both applicable? How should we calculate both of them?

2 If Company A charges both VAT & ST in bills, will Company B be able to take input credit in its ongoing activites?

3 Plz suggest any special provision, if any hit us anyways..

4 I have heard about WCT/WSC. Do we come under this?

We are in Gujarat

Plz suggest in detail…

Bhargav
97277 07911

sir/madam
can be utilize the cenvat credit of professional services received for the payment of service tax on transport services received(which is covered under reverse charge)

can a loss from Owing and maintaining Horses can be set off against other income (inter source)

or can it be carry forward to how many years

under which section